Dubai is one among the fastest growing economical centers around the world. With the best and most flexible business laws out there. Still confused on how to set up a business in Dubai and step foot in Middle East. It is indeed quite a demanding field to be in when you are filled with entrepreneurs around you. Don’t worry we got it all figured out for you here.
First and foremost you have to have an idea of the business environment in UAE. Here, Dubai is home to the most influential MNCs around the world like, IBM, Amazon, Huawei. The country has always been generous to its foreign entrepreneurs by providing a well upgraded infrastructure. Also, UAE promises an advanced and luxurious lifestyle as there are no personal taxes.
Apart from this, Dubai is situated in a very strategic location serving as a bridge between Europe and Asia. Also, major ports and roads connected well to help in the smooth flow of goods and services. Hence, Dubai is an Ideal location for setup business and grow globally.
The jurisdiction that you have selected for setup your business plays a very pivotal role in the benefits you acquire from it;
When it comes to starting your business in the Dubai Mainland area the Department of Economy & Tourism (DET) manages registration and licensing of mainland companies. Here you get 100% foreign ownership and it is highly flexible to access markets around UAE without any restrictions.
Coming to start off your business in the Free Zone area, same as above you get 100% ownership of your business setup. There will be 0% corporate taxation up to profits until AED 375,000 (9% corporate taxation for profits above AED 375,000), and 0% personal income tax. Under certain specific conditions, the Free Zone company can get Corporate Tax exemptions.
Acquiring a business license from the specific Free Zone allows you to open your workspace in that Free Zone. For operating outside the Free Zone, a special permit from DET can be availed for companies operating in Dubai-based Free Zones.
There are a few steps the investor must follow to set up a business in Dubai. These steps will help the entrepreneur to easily navigate through the journey of setting up a business in Dubai. So, the business owner can obtain the trade license for their company and successfully operate the newly set-up company without any hassle.
1) Initial approval receipt and all the previously submitted documents.
2) The lease contract provided by the Real Estate Regulatory Agency (RERA).
3) Duly attested service agent contract (for civil establishments and companies that are 100% owned by non-GCC nationals), the UAE involving a local service agent.
So, there are several benefits to setting up a business in Dubai. The investor can start operating in Dubai soon after they obtain their trade license. The trade license in Dubai can be obtained the same day in a few of the Free Trade Zones.
Furthermore, the business owner has two main options for setting up their business in Dubai. Depending on the type of business operations and area of operation, they can choose either the Mainland or the Free Zone.
Additionally, they offer several business setup packages tailored to specific business requirements.
For example, if they want a Free Zone company with an office space and 2 visas for the investors and 3 visas for employees to start with and later expand. The business owners have multiple Free Zones to choose from that will suit their requirements.
Depending on the emirate and location of the Free Zone, the office rent and associated trade license cost will vary.
Similarly, suppose they want to choose the Mainland and strengthen their local exposure further. In that case, the business owners can choose a Dubai Mainland License and business setup package pertaining to the mainland of Dubai.
Still having queries? Feel free to contact our team, here to assist you throughout the process of setting up a business for you.
Let us be a guiding hand to your new venture, make things simple by holding on with us.
